June 29 (Reuters) – London copper prices edged up on Wednesday due to a slight pullback in the U.S. dollar, although fears over a global economic slowdown, higher interest rates and weak economic readings kept investors on the edge. FUNDAMENTALS * Three-month copper on the London Metal Exchange was up 0.2% at $8,378 a tonne, as of 0238 GMT, after falling 0.6% in the previous session. * The most-traded August copper contract in Shanghai eased 0.1% to 63,990 yuan ($9,546.76) a tonne. * U.S. Federal Reserve policymakers on Tuesday promised further rapid interest-rate hikes to bring down high inflation, but pushed back against growing fears among investors and economists that higher borrowing costs will trigger a steep downturn. * U.S. consumer confidence fell sharply in June as worries about rapid inflation left consumers anticipating that economic growth would weaken significantly in the second half of the year. * The dollar… read more
